$3bn needed for Airport Development

The Iranian government is reportedly seeking private investors to fund a $3-billion expansion of the airports at Mehrabad, Imam Khomeini, Tabriz, Mashhad, Isfahan, Kerman and Shiraz.

Trade Arabia reports that Iran has already gathered around $2.35 billion in foreign investments through memorandums of understanding, and secured $650 million in firm contracts.

Among the deals, French company Vinci Airportssigned an agreement to develop Mashhad Airport (pictured) and Isfahan Airports; Italy’s SEA Group signed an MoU for a new 80,000-sqm passenger terminal at Tehran’s Mehrabad International Airport; and Italian construction company Vitali signed a contract to develop Tabriz International Airport.

The government is also looking for investors to develop a new terminal at Teheran’s Imam Khomeini International Airport.